WTI Market Analysis for the week of Jan 31
Upside, the 86.50 price region can contain selling into later February, above which 92.00 - 93.00 resistance structure remains a several week target, where the market can potentially place an annual high.
Downside, a weekly settlement back below the 86.50 area should mark a good Q1 high, 73.50 followed by 65.50 then attainable over the following several months time.
TRADE PLAN:
Last weeks daily settlement on 1/26 @ 87.35 (confirmed the 1% margin) above the 86.05 channel. If price settles on a weekly basis below 86.50, this trade likely fails. The 92.00 price area should be obtained within several weeks, hopefully prior to contract expiration.
Upside, the 86.50 price region can contain selling into later February, above which 92.00 - 93.00 resistance structure remains a several week target, where the market can potentially place an annual high.
Downside, a weekly settlement back below the 86.50 area should mark a good Q1 high, 73.50 followed by 65.50 then attainable over the following several months time.
TRADE PLAN:
Last weeks daily settlement on 1/26 @ 87.35 (confirmed the 1% margin) above the 86.05 channel. If price settles on a weekly basis below 86.50, this trade likely fails. The 92.00 price area should be obtained within several weeks, hopefully prior to contract expiration.
Anthony Speciale, founder of Speciale Analysis offers an affordable approach for all traders to grow into their highest potential.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Anthony Speciale, founder of Speciale Analysis offers an affordable approach for all traders to grow into their highest potential.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.